Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Fiat Ponzi

Reply
 
LinkBack Thread Tools
Old 10-17-2013, 12:58 AM   #1
Ground Beetle
 
Join Date: Oct 2011
Location: Here, There, and Everywhere
Posts: 633
Liked: 388 times
Ok, people, capital controls are here.

At least at Chase Bank, all transfers of money OUT of the U.S. will no longer be allowed after November 17th. However, all incoming and internal transfers will be allowed. This is the prelude to what we have been expecting to happen. And this is ALWAYS what has ALWAYS happened throughout history just before a government default.

In the next 30 days, we should see massive movements of money OUT of the U.S. before the door is slammed shut. I am assuming that Chase is just the government stooge to break the news and that the government is clamping down on ALL banking facilities, which would include Western Union, PayPal, Credit Unions, Banks, International Money Orders, and so on.

If you need to move money out of the U.S., be aware that now is the time to consider doing it.

And if this is or gets to be as bad as it appears to be, how are the oil companies, for example, going to pay for the crude oil that the U.S. needs for fuel, etc?

Quote :
This is the letter that we received directly from Chase. This is not secondhand information.

The letter clearly states that beginning November 17:

• All international wire transfers will be disallowed.

• All cash activity, including cash withdrawals and deposits, will be halted at "$50,000 per statement cycle." How are businesses who deal with a lot of cash (such as restaurants) supposed to function under such restrictions?

Learn more: http://www.naturalnews.com/042529_Ch...#ixzz2hxHc2C6S
Quote :
Dropping the hammer on capital controls

This is the beginning of the capital controls we've been warning about for years. Throughout history, when governments are on the brink of financial default, they begin limiting capital controls in exactly the way we are seeing here.

Following that, governments typically seize government pension funds, meaning the outright theft of pensions for cops, government workers, etc., is probably just around the corner.

Finally, the last act of desperation by governments facing financial default is to seize private funds from banks, Cyprus-style. The precedent for this has already been set in Cyprus, and when that happened, I was among many who openly predicted it would spread to the United States.

Learn more: http://www.naturalnews.com/042529_Ch...#ixzz2hxKtE6eI
Quote :
This is clearly stemming from a government policy that is requiring banks to prevent cash from leaving the United States. Such policies are only put into place when a huge financial default event is expected.

Learn more: http://www.naturalnews.com/042529_Ch...#ixzz2hxL7ny2g
__________________
If you keep doing what you are doing, You will keep getting what you are getting.
If you don't like what you are getting, You must change what you are doing.


http://mmerlinn.com

GOLD is the money of KINGS.
SILVER is the money of GENTLEMEN.
BARTER is the money of PEASANTS.
DEBT is the money of SLAVES.
- Norm Franz

Last edited by mmerlinn; 10-17-2013 at 01:02 AM.
mmerlinn is offline   Reply With Quote
Old 10-17-2013, 06:27 AM   #2
Super Moderator
 
benjamen's Avatar
 
Join Date: Mar 2012
Location: Migratory
Posts: 1,620
Liked: 685 times
Looking at a few other sources, this 50k limit on business accounts seems to be limited to cash transactions. You can get a higher limit if you upgrade to a more expensive account. This looks to be more of a way to make more money through premium business accounts. This is another consequence of the government tinkering with how much money banks can make off debt cards. They have to find money elsewhere.
__________________
I drive men mad
For love of me,
Easily beaten,
Never free.

PMBug 101 *** Forum Rules
benjamen is offline   Reply With Quote
Old 10-17-2013, 10:29 AM   #3
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
Hmmmm.......not sure what to make of this one. It almost looks like they are trying to force folks to maybe go a different, more expensive route by using a premium service, which appears to be more flexible. After all, as a bank, they get to peel off a vig each time you do a transaction, so to severely limit the amount of cash you can move around makes no sense, unless it is to force a person or a company to use a more expensive way to do things, resulting in higher fees for Chase.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 10-17-2013, 11:07 AM   #4
Yellow Jacket
 
Penn's Avatar
 
Join Date: Apr 2012
Posts: 1,566
Liked: 249 times
The bank actually tweeted alex jones on "clarification"- trying to say alex was confused...
Penn is offline   Reply With Quote
Old 10-17-2013, 11:11 AM   #5
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,017
Liked: 2443 times
JPM got hit with some massive fines and trading losses in recent times. Can't rely on Uncle Fed to pay for everything.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Argentina tightening up capital controls PMBug Fiat Ponzi 73 08-12-2019 09:23 AM
The President's Working Group on Capital Markets (aka PPT - Plunge Protection Team) PMBug Fiat Ponzi 5 02-25-2015 06:40 AM
Capital Flight in Spain Hits 15-Year High PMBug Fiat Ponzi 1 08-29-2012 08:34 AM
28% Capital Gains Tax on PM & The Black Market the sugar monster PM Bug 8 05-15-2012 09:53 PM
Hinde Capital Gold presentation escobar PM Bug 0 12-18-2011 09:33 PM


All times are GMT -5. The time now is 04:39 PM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.